Hollencrest Capital Management Sells 144 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Hollencrest Capital Management lowered its position in shares of Coinbase Global, Inc. (NASDAQ:COIN) by 47.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 160 shares of the cryptocurrency exchange’s stock after selling 144 shares during the quarter. Hollencrest Capital Management’s holdings in Coinbase Global were worth $40,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in Coinbase Global by 27.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 4,235 shares of the cryptocurrency exchange’s stock valued at $1,051,000 after acquiring an additional 908 shares during the last quarter. Windle Wealth LLC lifted its stake in Coinbase Global by 14.5% in the fourth quarter. Windle Wealth LLC now owns 7,868 shares of the cryptocurrency exchange’s stock valued at $1,954,000 after buying an additional 996 shares during the period. Clare Market Investments LLC bought a new position in Coinbase Global during the fourth quarter worth about $696,000. Independent Advisor Alliance boosted its holdings in Coinbase Global by 31.9% during the fourth quarter. Independent Advisor Alliance now owns 7,488 shares of the cryptocurrency exchange’s stock worth $1,859,000 after buying an additional 1,813 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Coinbase Global by 8.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,704 shares of the cryptocurrency exchange’s stock worth $3,900,000 after buying an additional 1,240 shares during the period. Institutional investors own 68.84% of the company’s stock.

Insider Buying and Selling at Coinbase Global

In related news, Director Frederick Ernest Ehrsam III sold 11,421 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $273.23, for a total value of $3,120,559.83. Following the transaction, the director now directly owns 10,417 shares in the company, valued at approximately $2,846,236.91. This represents a 52.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Alesia J. Haas sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $266.87, for a total transaction of $1,521,159.00. Following the transaction, the chief financial officer now directly owns 144,470 shares in the company, valued at $38,554,708.90. This represents a 3.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,455 shares of company stock valued at $60,955,968 in the last quarter. 23.43% of the stock is currently owned by insiders.

Coinbase Global Stock Up 0.0 %

Shares of COIN stock opened at $191.73 on Thursday. The firm’s fifty day moving average price is $258.42 and its two-hundred day moving average price is $241.08. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a 1 year low of $146.12 and a 1 year high of $349.75. The firm has a market capitalization of $48.68 billion, a P/E ratio of 20.18 and a beta of 3.66.

Coinbase Global (NASDAQ:COIN) last announced its quarterly earnings data on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a return on equity of 20.64% and a net margin of 39.34%. On average, equities analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COIN. JMP Securities lifted their price objective on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Mizuho reduced their price target on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating on the stock in a research report on Tuesday. HC Wainwright restated a “buy” rating and issued a $350.00 price objective on shares of Coinbase Global in a research report on Friday, February 21st. Piper Sandler lifted their target price on Coinbase Global from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $330.00 price target on shares of Coinbase Global in a report on Thursday, February 13th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.89.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.